General Motors buys Specialized Bicycles!

"In light of global concerns about climate change, GM has been at the forefront in developing new transportation choices that limit our impact on the environment," said Flora Lopi, GM's vice president, Environment, Energy and Safety Policy. "GM's engineering, marketing and distribution expertise combined with Specialized's branding among cycling enthusiasts make this a winning combination for GM investors and consumers."

Because of the timing of this announcement, there's a lot of speculation that this might be an April Fool's joke. I talked with Chris Matthews (marketing director at Specialized) on the phone this evening and he assures me this is the real deal.